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The number of companies operating as venture capital trusts fell in 2020-21 but the amount of investment raised through these entities grew according to statistics from HMRC.
The figures show that £668m of venture capital trust shares were issued in 2020-21 up 4% from a year earlier and almost double the amount raised in 2009-10.
However only 40 venture capital trusts issued funds in 2020-21 down from 43 a year earlier and 57 were managing funds down from 61.
In 2019-20 investors claimed income tax relief on £575m of investment – down 16% in a year. The number of investors claiming tax relief in that year fell 11% to 17 725.
Sarah Coles senior personal finance analyst at Hargreaves Lansdown said: ‘Venture capital trusts bounced back in 2020-21 raising 4% more cash than the previous year and almost...
